Scenarios

An accrual across a period boundary

Follows an estimated utilities expense from the judgement that creates it, through the close that relies on it, to the reversal that releases it and the invoice that replaces it. There is no transaction matching anywhere in this path.

Starting event

Northfield Foods Inc. consumed electricity at its Rockford plant during March. No invoice will arrive until 14 April, and the March close cannot wait.

Spans

31 March through 14 April

Scenario steps8
  • Northfield Foods Inc.
  • Northfield Foods Inc.
  • Northfield Foods Inc. · Entry Validation
  • Northfield Foods Inc. · Automated Calculation & Recurring Entries
  • Northfield Foods Inc. · Approval Workflow & Segregation of Duties
  • Northfield Foods Inc. · Auto-Reconciliation & Materiality Thresholds
  • Northfield Foods Inc. · Reversal, Correction & Open Item Lifecycle
  • Northfield Foods Inc. · Automated Calculation & Recurring Entries